First Canadian Graphite Closes Over-Subscribed Financing

First Canadian Graphite Inc. (FCI) has closed an oversubscribed private placement financing, raising gross proceeds of $4,843,088. The company issued 10,762,417 units at $0.45 per unit, with each unit comprising one common share and one-half warrant. The warrants carry a $0.75 exercise price, a two-year term, and an acceleration clause if shares trade at or above $1.10 for 10 consecutive days.

Proceeds from the offering are designated for general working capital and a planned 20,000-meter diamond drilling program at the Lac Guéret South project, extending the company's cash runway through 2027. Seven insiders participated in the offering, acquiring 890,000 units, a transaction classified as a related-party matter exempt from formal valuation and minority shareholder approval. The deal includes finder's fees of $44,068.50 in cash and 97,930 finder warrants. Securities are subject to a statutory hold period of four months and one day following issuance.

First Canadian Graphite Inc. (FCI) has closed a previously announced capital raise, initially disclosed in October 2026 as a combination of a $3 million hard-dollar offering and a $2 million flow-through offering. The transaction, which was oversubscribed by $1.84 million with significant insider participation, provides the necessary liquidity to execute the Phase III drilling program authorized in October.

The capital injection fully funds the 20,000-meter drilling program and covers administrative expenses through 2027, aligning with the company's stated development roadmap.

First Canadian Graphite Inc. (FCI) is an exploration-stage company focused on the Lac Guéret South graphite project located in Quebec's Manicouagan region. The project covers an area of over 236 square kilometers and borders Nouveau Monde Graphite's Uatnan project.

The company’s primary discovery target is Zone 13, which features a confirmed strike length of more than 10 kilometers with widths exceeding 150 meters. Surface sampling in this zone has returned grades of up to 43.4% graphitic carbon (Cg), with more than 30% of samples exceeding 20% Cg.

Historical data for Zone 1 includes an NI 43-101 compliant resource of 1.76 million tonnes indicated at 17% Cg and 1.53 million tonnes inferred at 16.4% Cg. First Canadian Graphite is advancing toward a Preliminary Economic Assessment (PEA) and Feasibility Study, targeting commercial production by 2027 or 2028.